Promithian Global Ventures Inc. is a development stage mining company. Promithian Global is currently exploring the Main Zone silver copper vein on the historic Warburton property in the southern Yukon, Canada. The intrusion related quartz-carbonate vein hosts high grades of silver and copper as well as lesser amounts of zinc, arsenic and antimony. Intrusion related silver/copper veins are excellent targets for high grade, small scale, underground mines. Promithian Global is exploring the Main Zone in order to determine the most efficient Narrow Vein Mining method that will be used to exploit the vein.
The Warburton property was first staked in the winter of 1892-1893 by Warburton Pike and S. Simpson, Who recorded an unknown number of claims at Laketon, British Columbia. The area was subsequently prospected by A. McMillan in the Late 1960s and 1970s, who discovered the “Main Zone” from which a grab sample returned a value of 6,656 g/t silver (194.6 oz/ton) and 15.66% copper. McMillan staked the GREEN 1-4 claims covering the present “Main Zone” in July 1980.
Early in 1981, McMillan optioned the claims to Warburton Minerals Inc. which added the RIVER 1-68 claims. Warburton further added the River 69-76 claims in July 1983, resulting in a block roughly similar in coverage to the present PHIL 1-93 claim block. Also in 1983, Warburton conducted a surface geological mapping and geochemical sampling program. A sample of the “Main Zone” taken during this program returned a value of 1,817 g/t silver (58.6 oz/ton) and 4.6% copper. Warburton also conducted airborne magnetic and electromagnetic (EM) surveying over the entire property in October 1983. The airborne survey served to identify the center of the intrusion on the property.
Descriptions from the 1983 program state the “Main Zone” occurs as a 1.4-meter wide stratiform quatz-carbonate vein within interbedded limestone and shale units along the overturned southwest limb of a northwest-trending anticline (Keyser, 1983). Keyser stated that a sample of this vein, taken in 1983, returned 7,121 g/t silver (208.0 oz/ton) and 17.6% copper. A 60-cm chip sample of this vein returned 1,814 g/t silver (53 oz/ton), 4.6% copper, 0.82% zinc, 0.38% Arsenic, and 0.49% antimony. The dominant economic mineral is tetrahedrite, with malachite and azurite, and lesser pyrite, galena, chalcopyrite and arsenopyrite. Malachite and azurite occur within similar quartz-carbonate veins that are “widespread over the area of the property”. These minerals are restricted to the veins, with no significant mineralization occurring in the host sediments (Keyser, 1983).
No further work was reported on the property prior to its’ acquisition in 2010 by Promithian Mining, Inc.
In December, 2010 a National Instrument 43-101 compliant report was completed on the property: PROMITHIAN MINING, INC. Technical Report On The PHIL Property, Watson Lake Area, Southeast Yukon.
In January, 2011 a Comprehensive Valuation Report was completed which valued the property at between $680,000 and $880,000.
In May, 2013 an Joint Venture Agreement was negotiated between Promithian Mining, Inc. and Promithian Global Ventures Inc.
In 2002, Promithian Inc., the Nacho Nyak Dun Development Corporation, and the Yukon Department of Energy Mines and Resources engaged Hatch Associates Ltd. to carry out a high level evaluation of Promithian’s plan for a mining–steel manufacturing operation in northeastern Yukon. The plan involves developing the Crest Iron Deposit and the Deslaurier Coal Deposit for the purpose of producing high-pressure natural gas line-pipe and other steel products.
The Crest Iron property is one of the largest iron ore deposits in North America. Located approximately 225-km northeast of Mayo, in a remote area of the Yukon and Northwest Territories. The total resource of the deposit is estimated to be in excess of eighteen billion tons of 46% Fe iron ore. A Preliminary Mining Feasibility Study was completed in 1963. Evaluation studies done between 1963 and 1965 indicated that, with a sufficient source of inexpensive energy, the ore could be beneficiated economically into a saleable Iron product with an 85% recovery rate. Ninety kilometers west of the Crest deposit is the 105 million tonne Deslaurier Coal Deposit.
An emerging regional market for line-pipe is envisioned. An international market for large diameter line-pipe could be accessed via the year round ice free port in Haines, Alaska. Other commodity-type steel products could also be exported via seaport into the west coast of North America.
A minimum size for an economically-viable steel mill in this context would be 1.2 million tons per year.
Upwards of one million tons of coal per year will be required to support the iron production process, directly, as well as to provide electrical energy for mining, benefaction, steel production, processing, manufacturing, and infrastructure requirements. Five thousand tons a day of iron concentrate will be delivered via slurry pipeline from a plant at the Crest iron site to the main steel mill and power plant site near the Deslaurier Deposit. Electricity from the main plant will be provided to the Crest plant via a power transmission line.
Promithian is of the opinion that this unique and complex project could be realized, subject to the resolution of a number of uncertainties and issues raised in the high level evaluation. These include permitting and access considerations, the timing and extent of development of the nearby market for line pipe, the beneficiability of the iron ore, the energy and iron unit production routes, and the availability of human resources. The project is being advanced to the Pre-Feasibility Study stage to more fully assess and define these issues as well as its economic viability.
DESLAURIER COAL DEPOSIT
In 2001, the principles of Promithian Inc. acquired from the Government of Canada an Exploration License covering approximately 40,000 acres in the Bonnet Plume Basin of the Yukon Territory, Canada.
Coal was first discovered in the Bonnet Plume Basin over a century ago. From 1977 through 1983, an extensive exploration and drilling program was conducted throughout the basin. Coal was discovered in the southern, southwestern, western, northwestern, and northern portions of the basin. The coal is primarily found in rocks of Cretaceous age within the lower Bonnet Plume formation. At least five major coal seams have been identified within the middle portion of the formation. It was determined that the southwest corner of the basin contained approximately six hundred and sixty million tonnes of in-situ high volatile, bituminous C, thermal coal. The coal in the basin is a low sulphur, low nitrogen product. The northern end of the Bonnet Plume Basin also contains approximately one billion four hundred million tonnes of lower-grade sub-bituminous and lignite coal.
The Deslaurier Coal Deposit is located at Latitude 65 26′ 12″ North, Longitude 135 26′ 00″ West in the most extreme western portion of the Bonnet Plume Basin. The Deposit contains approximately 105,000,000 tonnes of high volatile, bituminous C, thermal coal. The deposit occurs on the west bank of the Wind River and takes the form of a 6-kilometer long by 1.5-kilometer wide hill that runs in a north-south direction parallel to the Wind River (the deposit was previously referred to as the Wind River Deposit). The deposit has a maximum relief of approximately 180 meters. The Wind River Trail, the area’s access route, runs in a north-south direction approximately 25 meters from the west side of the deposit. At least three coal seams cut through the hill and are exposed along its outside perimeter. The bottom, or deepest seam, is 9.5 meters thick and dips approximately 5 degrees to the east. The seam is open to the east of the deposit.
Proximate Analysis of the clean coal from this seam is as follows:
Yield 81.6%, Moisture 3.7%, Ash 7.9%, Volatile Matter 34.3%, Fixed Carbon 53.9 %, Calorific Value 11,168 BTU/Lb. (25.97 MJ/Kg), Sulphur 0.46%, HGI (hardness) 43.6
Promithian Inc. is planning an exploration, engineering, and development project that would prove sufficient tonnage and quality of coal for a six million tonne per year mining operation that would export thermal coal into the Pacfic market
Coal License Map
129,000,000 O/S a/o May 15, 2013
250,000,000 A/S a/o May 15, 2013